Private Banking United Agreement 030126 Final

On the record for Private Banking United Agreement 030126 Final: a 14.74% purchase APR, no annual fee and a 18% penalty rate, filed by First Hawaiian Bank. Against the 4,587 filings on this site, that rate lands around the 13th percentile.

The disclosed terms

First Hawaiian Bank filed this agreement for Private Banking United Agreement 030126 Final with the Consumer Financial Protection Bureau. The filing runs five pages, and It is issued on the Mastercard network.

Terms captured from the document include a purchase rate, a cash advance rate, a penalty rate, an annual fee line and a late payment maximum. A balance transfer rate is not stated.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 14.74% — sits at approximately the 13th percentile and sits well down in the cheaper fifth of the set.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What a balance actually costs

The purchase rate turns a $2,000 revolving balance into roughly $318 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $174 annually against that benchmark.

Month to month it reads as about $24.37 per cycle on that balance.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The fee structure

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 18%. That is 3.26 points above the purchase rate. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Transfers are charged $5 or 5% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. On $5,000 that fee is about $250 before any interest is charged.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

When a payment is late

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

The jump from 14.74% to 18% is 3.26 percentage points, worth roughly $115 extra per year on $3,000 of balance.

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

How it sits in the issuer's own range

First Hawaiian Bank has 9 agreements indexed on this site. The issuer's own range is 14.74%–18%. At 14.74%, this agreement is dearer than 0 of its siblings.

What the filing does not tell you

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Reading the agreement yourself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The purchase rate of 14.74% is one of the cheaper figures in this index — the central point in the agreement's favour. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.